MiCA To RegRally: The Crypto Guide – Global News Digest, December 2024

ECOVIS ProventusLaw brings you a curated selection of significant developments from the global crypto regulatory landscape in December 2024.

AMERICAS

Court overturns US sanctions against cryptocurrency mixer Tornado Cash

The U.S. Court of Appeals for the Fifth Circuit ruled that the U.S. Treasury Department exceeded its authority when it sanctioned the cryptocurrency mixer Tornado Cash in 2022. The OFAC had imposed sanctions under the International Emergency Economic Powers Act, alleging that Tornado Cash facilitated the laundering of over $7 billion, including $455 million stolen by the Lazarus Group, a North Korean-backed hacking organization.

SEC approves Coincheck as first Japanese crypto exchange on Nasdaq